Swedish regulator is going to prohibit mining?

  • Elena Klimovich
  • 13:30 Jun 13, 2022
  • 927
Swedish regulator is going to prohibit mining?

The Central Bank of Sweden (Rikcbank) issued a demand to prevent the adoption of BTC on the territory of the country. The regulator justified such a statement by its concern for preserving the stability of the financial sector and the environmental situation.

The central bank also reported the results of a study of cryptocurrency mining using the PoW algorithm. Having studied the process, the regulator concluded that this mining method should be banned due to the energy intensity of the method and its negative impact on the environment.

According to the Riksbank, miners consume no less power than 200 000 households. In this regard, the document implies preventing the adoption of cryptocurrency in the country, despite the fact that many startups in the cryptosphere are opened here.

For their part, Christian Ander and Knut Svanholm, big BTC investors, are ready to argue with the regulator's decision and argue that the main reason is that he is afraid of losing control over the financial sector.

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